Versatile Commercial Building on
For Sale
$499,000
628 South Street, Hoosick Falls, NY 12090
5,000+/- sq ft building on 2.4+/- acres.
Property Size3,730 SF
Lot Size2.40 Acres
Price / SF$133.78
Days on Market159
Property Features for 628 South Street
General Information
Standard status
Active
Size
3,730 SF
Lot size
2.40 Acres
Property subtype
Commercial
Building Details
Year Built
1980
Listing Agency:
Berkshire Hathaway Home Services Blake
(518) 232-0697
Listed By:
Raymond Tinkham · License #9048
Source:
Heerrealty
Added: Mar 26
Changed: Aug 30
Last Checked: Aug 30 at 1:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway Home Services Blake
Investment Insights
Based on property information with market context.
This commercial building offers 5,000 +/- square feet of space on 2.4+/- level, cleared acres, and includes a large two-bay garage and blacktop driveway and parking lot. The main building features 900 square feet of retail space with 7'6'' ceilings, 800 square feet of office space with 7'6'' ceilings, and 720 square feet of storage space with 12' ceilings. The garage bays include: (1) 640 square feet (20X32) with a 15' ceiling and one 10'X10' and one 12'X12 overhead door; (2) 640 square feet (20X32) with a 15' ceiling and one 12'X12'' overhead door; (3) 600 square feet (20X30) with a 12' ceiling and one 9'xX12' overhead door. Utilities include 400/240 volts three-phase electric and L/P hot air heat. The two-bay garage measures 26'X36'' with a 14' ceiling and two 11'X12' overhead doors. The property is described as turnkey ready.
Key Highlights
- 5,000 sq ft commercial building on 2.4 level, cleared acres.
- Excellent location just off NY RT 7, providing easy access to Albany, Saratoga, Rutland, and Pittsfield.
- Includes a large two‑bay garage and blacktop driveway/parking lot.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,150
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$803,000
$803.0K
Cap Rate 7%
$573,571
$573.6K
Cap Rate 9%
$446,111
$446.1K
Market Conditions
NOI Build-Up for 3,730 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$67.1K $18.00/SF
− Vacancy
−$5.4K −$1.44/SF
EGI
$61.8K $16.56/SF
− OpEx
−$21.6K −$5.80/SF
NOI
$40.1K $10.76/SF
Area
Rensselaer County, NY
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$803,000
Cap Rate 7%
$573,571
Cap Rate 9%
$446,111
Alternative Uses
Best Use
Flex RnD
$573.6K
$501.9K – $669.2K
NOI $40,150 @ 7.0% cap · market cap 8.05%
Second Best
Industrial
$563.2K
$492.8K – $657.0K
NOI $39,422 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$932.4K
$815.9K – $1.09M
NOI $65,271 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12090, NY
6,223
Population
2,714
Households
2.3
Avg Household Size
42
Median Age
23%
College-Educated
93%
High-School Grad
57.8 sq mi
ZIP Area
108
Density / Sq Mi
$72,500
Median Household Income
$43,125
Median Earnings
$834
Median Rent
$187,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - 5,000+/- sq ft building on 2.4+/- acres.
Where is this flex space located?
The property is located at 628 South Street Hoosick Falls, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 5,000 sq ft commercial building on 2.4 level, cleared acres.; Excellent location just off NY RT 7, providing easy access to Albany, Saratoga, Rutland, and Pittsfield.; Includes a large two‑bay garage and blacktop driveway/parking lot.
